(UnitedVoice.com) – Millions of Americans have quit their jobs in the last year. New data from the Bureau of Labor Statistics shows September broke August’s record.
According to the new data, 3% of the US workforce, or 4.4 million people, quit their jobs in September. That was up from the 4.3 million people who left their jobs in August. To put those numbers in perspective, at the height of the COVID-19 layoffs in 2020, 2.3% of workers quit their jobs. Heather Long, an economics correspondent for The Washington Post, reported 34.5 million Americans have quit their jobs in 2021.
Just In: A record 4.4 million Americans quit their jobs in September 2021.
So far this year, 34.5 million Americans have quit — millions more than anything ever seen before.
(Next closest was 2019 when 31.7 million quit Jan-Sept).
The Great Resignation is PICKING UP speed pic.twitter.com/bSgkI9P6qk
— Heather Long (@byHeatherLong) November 12, 2021
The hospitality industry saw 6.6% of workers leave their jobs — a rate higher than any other industry. The Northeast saw the lowest turnover rate at 2.2%, while the South, West and Midwest had the highest at 3.3%, 3.1%, and 3.0% respectively.
The question is: why are people leaving? The answer is complicated.
First, there are Americans who have quit their jobs over the vaccine mandates that have spread throughout the country and some on the other side of the spectrum that are afraid to work because of the pandemic. Then, there are the parents who have had trouble finding child care amid the outbreak. An October poll, conducted by NPR and The Harvard T.H. Chan School of Public Health, found 1 in 3 households with children under 5 are having a hard time finding affordable childcare.
Finally, there are those who are leaving to find higher wages and better benefits at other jobs. The labor shortage is hurting the economy and has forced some businesses to raise wages in order to attract more employees. Many Americans have taken advantage of the opportunity to try to put themselves in a better financial position. Sadly, many have found that inflation has eaten up much of their wage increases.
The labor market is being called the most worker-friendly in recent history, but how long will it last and how long before price increases are seen to pay for increased benefits and higher wages? Will small businesses be able to compete or be forced to close their doors? Time will tell.
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